It’s earnings report season for the real estate industry—and we’re keeping you up to date on all the latest numbers!
Coming off a profitable third quarter, Anywhere Real Estate unfortunately took a tumble in its fourth quarter earnings. According to a company release, Anywhere brought in $1.3 billion in revenue in Q4—33 percent below the same period last year.
Worse, its net losses ballooned some 1,064 percent year-over-year to $453 million.
“Anywhere responded to a challenging 2022 housing market with agility to both prioritize our critical growth investments and continue to reengineer how we operate at a lower cost base,” said Ryan Schneider, Anywhere president and CEO. “We remain committed to our goals of growing our advantaged positions in franchise, luxury, and transaction services, along with our focus on simplifying the transaction for consumers and agents alike.”
Looking at the year as a whole, Anywhere generated $6.9 billion in revenue, a decrease of 13 percent year-over-year. The company also reported a net loss of $287 million and basic loss per share of $2.52, driven by $470 million of goodwill and franchise trademark impairments, and Adjusted net income of $32 million.
“In 2022, Anywhere executed a relentless focus on financial and operational performance, including $150 million in realized cost savings, with strategic actions to solidify our foundation for the future,” said Charlotte Simonelli, Anywhere executive vice president, chief financial officer, and treasurer. “We continue to prioritize investing for growth while driving even greater efficiencies in our business to ensure that Anywhere continues to deliver on the roadmap we laid out during our 2022 Investor Day.”